UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 2011
THE DUN & BRADSTREET CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | 1-15967 | 22-3725387 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
103 JFK Parkway, Short Hills, NJ | 07078 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (973) 921-5500
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Page | ||||
1 | ||||
Item 7.01 Regulation FD Disclosure |
1 | |||
Item 9.01 Financial Statements and Exhibits |
1 | |||
2 | ||||
EX-99.1: PRESS RELEASE |
PURPOSE OF FILING
The purpose of this filing is to report to you that we have issued a press release: (i) announcing our financial results for the first quarter period ended March 31, 2011 and (ii) reaffirming our 2011 full-year financial guidance.
(i)
Item 2.02. | Results of Operations and Financial Condition. |
On April 27, 2011, we issued a press release announcing our financial results for the first quarter period ended March 31, 2011. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated in this Item 2.02 by reference.
In accordance with General Instruction B.2 of Form 8-K, the information provided pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report on Form 8-K shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.
Item 7.01. | Regulation FD Disclosure. |
On April 27, 2011, we issued a press release reaffirming our 2011 full-year financial guidance. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated in this Item 7.01 by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit | Description | |||||
99.1 | Press Release of The Dun & Bradstreet Corporation, dated April 27, 2011 (furnished pursuant to Item 2.02 and Item 7.01). |
- 1 -
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
The Dun & Bradstreet Corporation | ||||
By: |
/s/ Richard S. Mattessich | |||
Vice President, Associate General Counsel | ||||
and Assistant Corporate Secretary |
DATE: April 27, 2011
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The Dun & Bradstreet Corporation | Schedule 1 | |||
Consolidated Statement of Operations (unaudited) - GAAP Results |
Effects of | ||||||||||||||||||||
Quarter Ended | AFX | Foreign | BFX | |||||||||||||||||
March 31, | % Change | Exchange | % Change | |||||||||||||||||
Dollar amounts in millions, except per share data |
2011 | 2010 | Fav (Unfav) | Fav (Unfav) | Fav (Unfav) | |||||||||||||||
Revenue: |
||||||||||||||||||||
North America |
$ | 291.2 | $ | 290.5 | 0 | % | 0 | % | 0 | % | ||||||||||
Asia Pacific |
53.1 | 32.8 | 62 | % | 7 | % | 55 | % | ||||||||||||
Europe and Other International Markets |
59.3 | 59.5 | (1 | %) | (3 | %) | 2 | % | ||||||||||||
International |
112.4 | 92.3 | 22 | % | 1 | % | 21 | % | ||||||||||||
Core Revenue |
$ | 403.6 | $ | 382.8 | 5 | % | 0 | % | 5 | % | ||||||||||
Divested Business (1) |
0.0 | 14.4 | N/M | N/M | N/M | |||||||||||||||
Total Revenue |
$ | 403.6 | $ | 397.2 | 2 | % | 1 | % | 1 | % | ||||||||||
Operating Income (Loss): |
||||||||||||||||||||
North America |
$ | 106.9 | $ | 105.3 | 2 | % | ||||||||||||||
Asia Pacific |
(1.9 | ) | 0.1 | N/M | ||||||||||||||||
Europe and Other International Markets |
11.1 | 13.3 | (17 | %) | ||||||||||||||||
International |
9.2 | 13.4 | (32 | %) | ||||||||||||||||
Corporate and Other (2) |
(26.8 | ) | (25.4 | ) | (6 | %) | ||||||||||||||
Total Operating Income |
89.3 | 93.3 | (4 | %) | ||||||||||||||||
Interest Income |
0.4 | 0.5 | (4 | %) | ||||||||||||||||
Interest Expense |
(9.2 | ) | (11.5 | ) | 19 | % | ||||||||||||||
Other Income (Expense) - Net (3) |
(3.3 | ) | 0.8 | N/M | ||||||||||||||||
Non-Operating Income (Expense) - Net |
(12.1 | ) | (10.2 | ) | (18 | %) | ||||||||||||||
Income Before Provision for Income Taxes |
77.2 | 83.1 | (7 | %) | ||||||||||||||||
Provision for Income Taxes |
29.1 | 37.3 | 22 | % | ||||||||||||||||
Equity in Net Income (Loss) of Affiliates |
0.2 | | N/M | |||||||||||||||||
Net Income |
48.3 | 45.8 | 6 | % | ||||||||||||||||
Less: Net (Income) Loss Attributable to the Noncontrolling Interest |
1.6 | 1.2 | 28 | % | ||||||||||||||||
Net Income Attributable to D&B (4) |
49.9 | 47.0 | 6 | % | ||||||||||||||||
Less: Allocation to Participating Securities |
(0.1 | ) | (0.3 | ) | 61 | % | ||||||||||||||
Net Income Attributable to D&B Common Shareholders |
49.8 | 46.7 | 7 | % | ||||||||||||||||
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders |
$ | 1.00 | $ | 0.93 | 8 | % | ||||||||||||||
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (5) |
$ | 1.00 | $ | 0.92 | 9 | % | ||||||||||||||
Weighted Average Number of Shares Outstanding: |
||||||||||||||||||||
Basic |
49.5 | 50.4 | 2 | % | ||||||||||||||||
Diluted |
50.0 | 50.9 | 2 | % | ||||||||||||||||
AFX - After Effects of Foreign Exchange
BFX - Before Effects of Foreign Exchange
N/M - Not Meaningful
See Schedule 3 (Notes to Schedules), which is an integral part of the consolidated statement of operations.
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.
The Dun & Bradstreet Corporation | Schedule 2 | |||
Consolidated Statement of Operations (unaudited) - Before Non-Core Gains and Charges |
Effects of | ||||||||||||||||||||
Quarter Ended | AFX | Foreign | BFX | |||||||||||||||||
March 31, | % Change | Exchange | % Change | |||||||||||||||||
Dollar amounts in millions, except per share data |
2011 | 2010 | Fav (Unfav) | Fav (Unfav) | Fav (Unfav) | |||||||||||||||
Revenue: |
||||||||||||||||||||
North America |
$ | 291.2 | $ | 290.5 | 0 | % | 0 | % | 0 | % | ||||||||||
Asia Pacific |
53.1 | 32.8 | 62 | % | 7 | % | 55 | % | ||||||||||||
Europe and Other International Markets |
59.3 | 59.5 | (1 | %) | (3 | %) | 2 | % | ||||||||||||
International |
112.4 | 92.3 | 22 | % | 1 | % | 21 | % | ||||||||||||
Core Revenue |
$ | 403.6 | $ | 382.8 | 5 | % | 0 | % | 5 | % | ||||||||||
Divested Business (1) |
0.0 | 14.4 | N/M | N/M | N/M | |||||||||||||||
Total Revenue |
$ | 403.6 | $ | 397.2 | 2 | % | 1 | % | 1 | % | ||||||||||
Operating Income (Loss): |
||||||||||||||||||||
North America |
$ | 106.9 | $ | 105.3 | 2 | % | ||||||||||||||
Asia Pacific |
(1.9 | ) | 0.1 | N/M | ||||||||||||||||
Europe and Other International Markets |
11.1 | 13.3 | (17 | %) | ||||||||||||||||
International |
9.2 | 13.4 | (32 | %) | ||||||||||||||||
Corporate and Other (2) |
(12.7 | ) | (16.0 | ) | 21 | % | ||||||||||||||
Total Operating Income |
103.4 | 102.7 | 1 | % | ||||||||||||||||
Interest Income |
0.4 | 0.5 | (4 | %) | ||||||||||||||||
Interest Expense |
(9.2 | ) | (11.5 | ) | 19 | % | ||||||||||||||
Other Income (Expense) - Net (3) |
(0.3 | ) | 0.5 | N/M | ||||||||||||||||
Non-Operating Income (Expense) - Net |
(9.1 | ) | (10.5 | ) | 13 | % | ||||||||||||||
Income Before Provision for Income Taxes |
94.3 | 92.2 | 2 | % | ||||||||||||||||
Provision for Income Taxes |
31.6 | 27.2 | (16 | %) | ||||||||||||||||
Equity in Net Income (Loss) of Affiliates |
0.2 | | N/M | |||||||||||||||||
Net Income |
62.9 | 65.0 | (3 | %) | ||||||||||||||||
Less: Net (Income) Loss Attributable to the Noncontrolling Interest |
1.6 | 1.2 | 28 | % | ||||||||||||||||
Net Income Attributable to D&B (4) |
64.5 | 66.2 | (3 | %) | ||||||||||||||||
Less: Allocation to Participating Securities |
(0.1 | ) | (0.3 | ) | 64 | % | ||||||||||||||
Net Income Attributable to D&B Common Shareholders |
64.4 | 65.9 | (2 | %) | ||||||||||||||||
Basic Earnings Per Share of Common Stock Attributable to D&B Common Shareholders |
$ | 1.30 | $ | 1.31 | (1 | %) | ||||||||||||||
Diluted Earnings Per Share of Common Stock Attributable to D&B Common Shareholders (5) |
$ | 1.29 | $ | 1.29 | 0 | % | ||||||||||||||
Weighted Average Number of Shares Outstanding: |
||||||||||||||||||||
Basic |
49.5 | 50.4 | 2 | % | ||||||||||||||||
Diluted |
50.0 | 50.9 | 2 | % | ||||||||||||||||
AFX - After Effects of Foreign Exchange
BFX - Before Effects of Foreign Exchange
N/M - Not Meaningful
See Schedule 3 (Notes to Schedules), which is an integral part of the consolidated statement of operations.
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.
The Dun & Bradstreet Corporation | Schedule 3 | |
Notes to Schedules 1 and 2 (unaudited) and Definitions of Non-GAAP Measures |
(1) | Includes revenue from the North American Self Awareness Solutions business divested in the third quarter of 2010 |
(2) | The following table reconciles Corporate and Other expenses included in Schedule 1 and Schedule 2: |
Quarter
Ended March 31, |
||||||||||||
% Change | ||||||||||||
Amounts in millions |
2011 | 2010 | Fav/(Unfav) | |||||||||
Corporate and Other - GAAP Results (Schedule 1) |
$ | (26.8 | ) | $ | (25.4 | ) | (6 | )% | ||||
Restructuring Charges |
(4.2 | ) | (4.6 | ) | 8 | % | ||||||
Strategic Technology Investment |
(9.9 | ) | (4.8 | ) | N/M | |||||||
Corporate and Other - Before Non-Core Gains and Charges (Schedule 2) |
$ | (12.7 | ) | $ | (16.0 | ) | 21 | % | ||||
(3) | The following table reconciles Other Income (Expense)-Net included in Schedule 1 and Schedule 2: |
Quarter Ended March 31, |
||||||||||||
% Change | ||||||||||||
Amounts in millions |
2011 | 2010 | Fav/(Unfav) | |||||||||
Other Income (Expense)-Net - GAAP Results (Schedule 1) |
$ | (3.3 | ) | $ | 0.8 | N/M | ||||||
Effect of Legacy Tax Matters |
0.2 | 0.3 | (33 | )% | ||||||||
Loss on Sale of Investment |
(3.2 | ) | | N/M | ||||||||
Other Income (Expense)-Net - Before Non-Core Gains and Charges (Schedule 2) |
$ | (0.3 | ) | $ | 0.5 | N/M | ||||||
Quarter Ended March 31, |
||||||||||||
Amounts in millions |
2011 | 2010 | ||||||||||
Total Pre-Tax Impacts: |
||||||||||||
Restructuring Charges |
$ | (4.2 | ) | $ | (4.6 | ) | ||||||
Strategic Technology Investment |
(9.9 | ) | (4.8 | ) | ||||||||
Effect of Legacy Tax Matters |
0.2 | 0.3 | ||||||||||
Loss on Sale of Investment |
(3.2 | ) | | |||||||||
Total Pre-Tax Impacts |
$ | (17.1 | ) | $ | (9.1 | ) | ||||||
The Dun & Bradstreet Corporation | Schedule 3 | |
Notes to Schedules 1 and 2 (unaudited) and Definitions of Non-GAAP Measures |
(4) | The following table reconciles Net Income Attributable to D&B included in Schedule 1 and Schedule 2: |
Quarter Ended March 31, |
||||||||||||
% Change | ||||||||||||
Amounts in millions |
2011 | 2010 | Fav/(Unfav) | |||||||||
Net Income Attributable to D&B - GAAP Results (Schedule 1) |
$ | 49.9 | $ | 47.0 | 6 | % | ||||||
Restructuring Charges |
(2.7 | ) | (2.8 | ) | 4 | % | ||||||
Strategic Technology Investment |
(8.0 | ) | (3.4 | ) | N/M | |||||||
Loss on Sale of Investment |
(3.9 | ) | | N/M | ||||||||
Reduction of a Deferred Tax Asset Resulting from the Healthcare Act of 2010 |
| (13.0 | ) | N/M | ||||||||
After-Tax Impact |
(14.6 | ) | (19.2 | ) | ||||||||
Net Income Attributable to D&B - Before Non-Core Gains and Charges (Schedule 2) |
$ | 64.5 | $ | 66.2 | (3 | )% | ||||||
(5) | The following table reconciles Diluted Earnings Per Share Attributable to D&B included in Schedule 1 and Schedule 2: |
Quarter
Ended March 31, |
||||||||||||
%
Change Fav/(Unfav) |
||||||||||||
2011 | 2010 | |||||||||||
Diluted EPS Attributable to D&B - GAAP Results (Schedule 1) |
$ | 1.00 | $ | 0.92 | 9 | % | ||||||
Restructuring Charges |
(0.05 | ) | (0.05 | ) | N/M | |||||||
Strategic Technology Investment |
(0.16 | ) | (0.06 | ) | N/M | |||||||
Loss on Sale of Investment |
(0.08 | ) | | N/M | ||||||||
Reduction of a Deferred Tax Asset Resulting from the Healthcare Act of 2010 |
| (0.26 | ) | N/M | ||||||||
Diluted EPS Attributable to D&B - Before Non-Core Gains and Charges (Schedule 2) |
$ | 1.29 | $ | 1.29 | 0 | % | ||||||
N/M - Not Meaningful
The following defines the non-GAAP measures used to evaluate performance:
* | Total revenue excluding the revenue of divested businesses is referred to as core revenue. Core revenue includes the revenue from acquired businesses from the date of acquisition |
* | Core revenue growth, excluding the effects of foreign exchange, is referred to as core revenue growth before the effects of foreign exchange. We also separately, from time to time, analyze core revenue growth before the effects of foreign exchange among two components, organic core revenue growth and core revenue growth from acquisitions |
* | Results (such as operating income, operating income growth, operating margin, net income, tax rate and diluted earnings per share) exclude Restructuring Charges (whether recurring or non-recurring) and certain other items that we consider do not reflect our underlying business performance. We refer to these Restructuring Charges and other items as non-core gains and (charges) |
* | Net cash provided by operating activities minus capital expenditures and additions to computer software and other intangibles is referred to as free cash flow |
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.
The Dun & Bradstreet Corporation | Schedule 4 | |||
Supplemental GAAP Financial Data (unaudited) |
Effects of | ||||||||||||||||||||
Quarter Ended | AFX | Foreign | BFX | |||||||||||||||||
March 31, | % Change | Exchange | % Change | |||||||||||||||||
Amounts in millions |
2011 | 2010 | Fav/(Unfav) | Fav/(Unfav) | Fav/(Unfav) | |||||||||||||||
Geographic and Customer Solution Set Revenue: |
||||||||||||||||||||
North America: |
||||||||||||||||||||
Risk Management Solutions |
$ | 179.6 | $ | 179.2 | 0 | % | 0 | % | 0 | % | ||||||||||
Sales & Marketing Solutions |
82.5 | 84.0 | (2 | )% | 0 | % | (2 | )% | ||||||||||||
Internet Solutions |
29.1 | 27.3 | 7 | % | 1 | % | 6 | % | ||||||||||||
Subtotal Core Revenue |
291.2 | 290.5 | 0 | % | 0 | % | 0 | % | ||||||||||||
Divested Business 1 |
| 14.4 | N/M | N/M | N/M | |||||||||||||||
Total North America Revenue |
291.2 | 304.9 | (5 | )% | 0 | % | (5 | )% | ||||||||||||
Asia Pacific: |
||||||||||||||||||||
Risk Management Solutions |
$ | 37.2 | $ | 17.4 | N/M | N/M | N/M | |||||||||||||
Sales & Marketing Solutions |
15.7 | 15.1 | 4 | % | 4 | % | 0 | % | ||||||||||||
Internet Solutions |
0.2 | 0.3 | (12 | )% | 3 | % | (15 | )% | ||||||||||||
Subtotal Core Revenue |
53.1 | 32.8 | 62 | % | 7 | % | 55 | % | ||||||||||||
Divested Business 1 |
| | 0 | % | 0 | % | 0 | % | ||||||||||||
Total Asia Pacific Revenue |
53.1 | 32.8 | 62 | % | 7 | % | 55 | % | ||||||||||||
Europe and Other International Markets: |
||||||||||||||||||||
Risk Management Solutions |
$ | 49.7 | $ | 50.6 | (2 | )% | (3 | )% | 1 | % | ||||||||||
Sales & Marketing Solutions |
9.0 | 8.4 | 6 | % | (3 | )% | 9 | % | ||||||||||||
Internet Solutions |
0.6 | 0.5 | 13 | % | (2 | )% | 15 | % | ||||||||||||
Subtotal Core Revenue |
59.3 | 59.5 | (1 | )% | (3 | )% | 2 | % | ||||||||||||
Divested Business 1 |
| | 0 | % | 0 | % | 0 | % | ||||||||||||
Total Europe and Other International Markets Revenue |
59.3 | 59.5 | (1 | )% | (3 | )% | 2 | % | ||||||||||||
International |
||||||||||||||||||||
Risk Management Solutions |
$ | 86.9 | $ | 68.0 | 28 | % | 0 | % | 28 | % | ||||||||||
Sales & Marketing Solutions |
24.7 | 23.5 | 5 | % | 2 | % | 3 | % | ||||||||||||
Internet Solutions |
0.8 | 0.8 | 4 | % | (1 | )% | 5 | % | ||||||||||||
Subtotal Core Revenue |
112.4 | 92.3 | 22 | % | 1 | % | 21 | % | ||||||||||||
Divested Business 1 |
| | 0 | % | 0 | % | 0 | % | ||||||||||||
Total International Revenue |
112.4 | 92.3 | 22 | % | 1 | % | 21 | % | ||||||||||||
Total Corporation: |
||||||||||||||||||||
Risk Management Solutions |
$ | 266.5 | $ | 247.2 | 8 | % | 1 | % | 7 | % | ||||||||||
Sales & Marketing Solutions |
107.2 | 107.5 | 0 | % | 1 | % | (1 | )% | ||||||||||||
Internet Solutions |
29.9 | 28.1 | 6 | % | 0 | % | 6 | % | ||||||||||||
Subtotal Core Revenue |
403.6 | 382.8 | 5 | % | 0 | % | 5 | % | ||||||||||||
Divested Business 1 |
| 14.4 | N/M | N/M | N/M | |||||||||||||||
Total Corporation Revenue |
403.6 | 397.2 | 2 | % | 1 | % | 1 | % | ||||||||||||
Operating Costs: |
||||||||||||||||||||
Operating Expenses |
$ | 137.2 | $ | 132.3 | (4 | )% | ||||||||||||||
Selling and Administrative Expenses |
153.5 | 151.8 | (1 | )% | ||||||||||||||||
Depreciation and Amortization |
19.4 | 15.2 | (28 | )% | ||||||||||||||||
Restructuring Expense |
4.2 | 4.6 | 8 | % | ||||||||||||||||
Total Operating Costs 2 |
$ | 314.3 | $ | 303.9 | (3 | )% | ||||||||||||||
Capital Expenditures 3 |
$ | 1.3 | $ | 2.9 | 57 | % | ||||||||||||||
Additions to Computer Software & Other Intangibles 3 |
$ | 8.2 | $ | 15.5 | 47 | % | ||||||||||||||
Quarter Ended | ||||||||||||||||||||
Amounts in millions |
Mar 31, 2011 | Dec 31, 2010 | Sep 30, 2010 | Jun 30, 2010 | Mar 31, 2010 | |||||||||||||||
Net Debt Position: |
||||||||||||||||||||
Cash and Cash Equivalents |
$ | 83.6 | $ | 78.5 | $ | 77.2 | $ | 209.7 | $ | 218.7 | ||||||||||
Short-Term Debt |
(2.1 | ) | (1.5 | ) | (301.4 | ) | (301.3 | ) | (302.7 | ) | ||||||||||
Long-Term Debt |
(888.6 | ) | (972.0 | ) | (654.6 | ) | (625.1 | ) | (649.7 | ) | ||||||||||
Net Debt |
$ | (807.1 | ) | $ | (895.0 | ) | $ | (878.8 | ) | $ | (716.7 | ) | $ | (733.7 | ) | |||||
The Dun & Bradstreet Corporation | Schedule 4 | |||
Supplemental GAAP Financial Data (unaudited) |
Year-to-Date | ||||||||||||
Amounts in millions |
March 31, 2011 | March 31, 2010 | % Change Fav/(Unfav) |
|||||||||
Free Cash Flow: |
||||||||||||
Net Cash Provided By Operating Activities (GAAP Results) |
$ | 135.9 | $ | 128.5 | 6 | % | ||||||
Less: |
||||||||||||
Capital Expenditures (GAAP Results) 3 |
1.3 | 2.9 | 57 | % | ||||||||
Additions to Computer Software & Other Intangibles (GAAP Results) 3 |
8.2 | 15.5 | 47 | % | ||||||||
Free Cash Flow |
$ | 126.4 | $ | 110.1 | 15 | % | ||||||
Legacy Tax Matters (Refund) Payment |
(7.6 | ) | | N/M | ||||||||
Free Cash Flow Excluding Legacy Tax Matters |
$ | 118.8 | $ | 110.1 | 8 | % | ||||||
Year-to-Date | ||||||||||||
Amounts in millions |
March 31, 2011 | March 31, 2010 | % Change Fav/(Unfav) |
|||||||||
Net Cash Provided By Operating Activities excluding Legacy Tax Matters: |
||||||||||||
Net Cash Provided By Operating Activities (GAAP Results) |
$ | 135.9 | $ | 128.5 | 6 | % | ||||||
Legacy Tax Matters (Refund) Payment |
(7.6 | ) | | N/M | ||||||||
Net Cash Provided By Operating Activities Excluding Legacy Tax Matters |
$ | 128.3 | $ | 128.5 | 0 | % | ||||||
Notes:
Quarter Ended | ||||||||
March 31, | ||||||||
2011 | 2010 | |||||||
1 Divested Business: |
||||||||
North America: |
||||||||
Risk Management Solutions |
$ | 0.0 | $ | 14.0 | ||||
Sales & Marketing Solutions |
0.0 | 0.0 | ||||||
Internet Solutions |
0.0 | 0.4 | ||||||
Total Divested Business |
0.0 | 14.4 | ||||||
Asia Pacific: |
||||||||
Risk Management Solutions |
$ | 0.0 | $ | 0.0 | ||||
Sales & Marketing Solutions |
0.0 | 0.0 | ||||||
Internet Solutions |
0.0 | 0.0 | ||||||
Total Divested Business |
0.0 | 0.0 | ||||||
Europe and Other International Markets: |
||||||||
Risk Management Solutions |
$ | 0.0 | $ | 0.0 | ||||
Sales & Marketing Solutions |
0.0 | 0.0 | ||||||
Internet Solutions |
0.0 | 0.0 | ||||||
Total Divested Business |
0.0 | 0.0 | ||||||
Total Corporation: |
||||||||
Risk Management Solutions |
0.0 | 14.0 | ||||||
Sales & Marketing Solutions |
0.0 | 0.0 | ||||||
Internet Solutions |
0.0 | 0.4 | ||||||
Total Divested Business |
$ | 0.0 | $ | 14.4 | ||||
2 Strategic Technology Investment: |
||||||||
Operating Expenses |
$ | 8.0 | $ | 4.3 | ||||
Selling and Administrative Expenses |
1.3 | 0.5 | ||||||
Depreciation and Amortization |
0.6 | 0.0 | ||||||
Total Operating Costs |
$ | 9.9 | $ | 4.8 | ||||
3 Strategic Technology Investment: |
||||||||
Capital Expenditures |
$ | 0.7 | $ | 0.0 | ||||
Additions to Computer Software & Other Intangibles |
$ | 2.7 | $ | 0.0 | ||||
AFX - After Effects of Foreign Exchange
BFX - Before Effects of Foreign Exchange
N/M - Not Meaningful
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.
The Dun & Bradstreet Corporation | Schedule 5 | |||
GAAP Revenue Reconciliation and Detail (unaudited) |
Quarter Ended March 31, 2011 vs. 2010 | ||||||||||||||||||||||||||||
Traditional/VAPs as a | ||||||||||||||||||||||||||||
AFX % Change Fav/(Unfav) |
Effects
of Foreign Exchange |
BFX % Change Fav/(Unfav) |
% of Total Customer Solution Sets/Core |
|||||||||||||||||||||||||
2011 % Product Line/Core |
2010 % Product Line/Core |
|||||||||||||||||||||||||||
Revenue: |
||||||||||||||||||||||||||||
North America: |
||||||||||||||||||||||||||||
Risk Management Solutions: |
||||||||||||||||||||||||||||
Traditional |
(1 | )% | 0 | % | (1 | )% | 70 | % | 43 | % | 71 | % | 43 | % | ||||||||||||||
VAPs |
(1 | )% | 1 | % | (2 | )% | 22 | % | 14 | % | 22 | % | 14 | % | ||||||||||||||
Supply Management Solutions |
12 | % | 0 | % | 12 | % | 8 | % | 5 | % | 7 | % | 5 | % | ||||||||||||||
Total Risk Management Solutions |
0 | % | 0 | % | 0 | % | 62 | % | 62 | % | ||||||||||||||||||
Sales & Marketing Solutions: |
||||||||||||||||||||||||||||
Traditional |
(16 | )% | 0 | % | (16 | )% | 29 | % | 8 | % | 34 | % | 10 | % | ||||||||||||||
VAPs |
6 | % | 0 | % | 6 | % | 71 | % | 20 | % | 66 | % | 19 | % | ||||||||||||||
Total Sales & Marketing Solutions |
(2 | )% | 0 | % | (2 | )% | 28 | % | 29 | % | ||||||||||||||||||
Internet Solutions |
7 | % | 1 | % | 6 | % | 10 | % | 9 | % | ||||||||||||||||||
Core Revenue |
0 | % | 0 | % | 0 | % | ||||||||||||||||||||||
Divested Business |
N/M | N/M | N/M | |||||||||||||||||||||||||
Total North America Revenue |
(5 | )% | 0 | % | (5 | )% | ||||||||||||||||||||||
Asia Pacific: |
||||||||||||||||||||||||||||
Risk Management Solutions: |
||||||||||||||||||||||||||||
Traditional |
N/M | N/M | N/M | 95 | % | 67 | % | 93 | % | 49 | % | |||||||||||||||||
VAPs |
43 | % | 6 | % | 37 | % | 5 | % | 3 | % | 7 | % | 4 | % | ||||||||||||||
Supply Management Solutions |
0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||
Total Risk Management Solutions |
N/M | N/M | N/M | 70 | % | 53 | % | |||||||||||||||||||||
Sales & Marketing Solutions: |
||||||||||||||||||||||||||||
Traditional |
23 | % | 3 | % | 20 | % | 67 | % | 20 | % | 56 | % | 26 | % | ||||||||||||||
VAPs |
(21 | )% | 6 | % | (27 | )% | 33 | % | 10 | % | 44 | % | 20 | % | ||||||||||||||
Total Sales & Marketing Solutions |
4 | % | 4 | % | 0 | % | 30 | % | 46 | % | ||||||||||||||||||
Internet Solutions |
(12 | )% | 3 | % | (15 | )% | 0 | % | 1 | % | ||||||||||||||||||
Core Revenue |
62 | % | 7 | % | 55 | % | ||||||||||||||||||||||
Divested Business |
0 | % | 0 | % | 0 | % | ||||||||||||||||||||||
Total Asia Pacific Revenue |
62 | % | 7 | % | 55 | % | ||||||||||||||||||||||
Europe and Other International Markets: |
||||||||||||||||||||||||||||
Risk Management Solutions: |
||||||||||||||||||||||||||||
Traditional |
(2 | )% | (3 | )% | 1 | % | 79 | % | 66 | % | 79 | % | 68 | % | ||||||||||||||
VAPs |
3 | % | (1 | )% | 4 | % | 20 | % | 17 | % | 19 | % | 16 | % | ||||||||||||||
Supply Management Solutions |
(31 | )% | 1 | % | (32 | )% | 1 | % | 1 | % | 2 | % | 1 | % | ||||||||||||||
Total Risk Management Solutions |
(2 | )% | (3 | )% | 1 | % | 84 | % | 85 | % | ||||||||||||||||||
Sales & Marketing Solutions: |
||||||||||||||||||||||||||||
Traditional |
23 | % | (3 | )% | 26 | % | 66 | % | 10 | % | 57 | % | 8 | % | ||||||||||||||
VAPs |
(16 | )% | (2 | )% | (14 | )% | 34 | % | 5 | % | 43 | % | 6 | % | ||||||||||||||
Total Sales & Marketing Solutions |
6 | % | (3 | )% | 9 | % | 15 | % | 14 | % | ||||||||||||||||||
Internet Solutions |
13 | % | (2 | )% | 15 | % | 1 | % | 1 | % | ||||||||||||||||||
Core Revenue |
(1 | )% | (3 | )% | 2 | % | ||||||||||||||||||||||
Divested Business |
0 | % | 0 | % | 0 | % | ||||||||||||||||||||||
Total Europe and Other International Markets Revenue |
(1 | )% | (3 | )% | 2 | % | ||||||||||||||||||||||
International: |
||||||||||||||||||||||||||||
Risk Management Solutions: |
||||||||||||||||||||||||||||
Traditional |
33 | % | 0 | % | 33 | % | 86 | % | 67 | % | 83 | % | 61 | % | ||||||||||||||
VAPs |
7 | % | (1 | )% | 8 | % | 14 | % | 10 | % | 16 | % | 12 | % | ||||||||||||||
Supply Management Solutions |
(31 | )% | 1 | % | (32 | )% | 0 | % | 0 | % | 1 | % | 1 | % | ||||||||||||||
Total Risk Management Solutions |
28 | % | 0 | % | 28 | % | 77 | % | 74 | % | ||||||||||||||||||
Sales & Marketing Solutions: |
||||||||||||||||||||||||||||
Traditional |
23 | % | 1 | % | 22 | % | 66 | % | 15 | % | 57 | % | 14 | % | ||||||||||||||
VAPs |
(19 | )% | 3 | % | (22 | )% | 34 | % | 7 | % | 43 | % | 11 | % | ||||||||||||||
Total Sales & Marketing Solutions |
5 | % | 2 | % | 3 | % | 22 | % | 25 | % | ||||||||||||||||||
Internet Solutions |
4 | % | (1 | )% | 5 | % | 1 | % | 1 | % | ||||||||||||||||||
Core Revenue |
22 | % | 1 | % | 21 | % | ||||||||||||||||||||||
Divested Business |
0 | % | 0 | % | 0 | % | ||||||||||||||||||||||
Total International Revenue |
22 | % | 1 | % | 21 | % | ||||||||||||||||||||||
Total Corporation: |
||||||||||||||||||||||||||||
Risk Management Solutions: |
||||||||||||||||||||||||||||
Traditional |
10 | % | 1 | % | 9 | % | 75 | % | 50 | % | 74 | % | 48 | % | ||||||||||||||
VAPs |
1 | % | 0 | % | 1 | % | 19 | % | 12 | % | 20 | % | 13 | % | ||||||||||||||
Supply Management Solutions |
10 | % | 0 | % | 10 | % | 6 | % | 4 | % | 6 | % | 4 | % | ||||||||||||||
Total Risk Management Solutions |
8 | % | 1 | % | 7 | % | 66 | % | 65 | % | ||||||||||||||||||
Sales & Marketing Solutions: |
||||||||||||||||||||||||||||
Traditional |
(4 | )% | 0 | % | (4 | )% | 37 | % | 10 | % | 39 | % | 11 | % | ||||||||||||||
VAPs |
2 | % | 1 | % | 1 | % | 63 | % | 17 | % | 61 | % | 17 | % | ||||||||||||||
Total Sales & Marketing Solutions |
0 | % | 1 | % | (1 | )% | 27 | % | 28 | % | ||||||||||||||||||
Internet Solutions |
6 | % | 0 | % | 6 | % | 7 | % | 7 | % | ||||||||||||||||||
Core Revenue |
5 | % | 0 | % | 5 | % | ||||||||||||||||||||||
Divested Business |
N/M | N/M | N/M | |||||||||||||||||||||||||
Total Revenue |
2 | % | 1 | % | 1 | % |
AFX - After Effects of Foreign Exchange
BFX - Before Effects of Foreign Exchange
N/M - Not Meaningful
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.
The Dun & Bradstreet Corporation | Schedule 6 | |||
Supplemental Revenue Data (unaudited) |
Quarter Ended | ||||||||||||||||||||||||||||||||||||
% of Core Product Line |
Mar 31, 2011 |
Dec 31, 2010 |
Sep 30, 2010 |
Jun 30, 2010 |
Mar 31, 2010 |
Dec 31, 2009 |
Sep 30, 2009 |
Jun 30, 2009 |
Mar 31, 2009 |
|||||||||||||||||||||||||||
North America Risk Management Solutions |
||||||||||||||||||||||||||||||||||||
Subscription 1 |
71 | % | 67 | % | 69 | % | 71 | % | 71 | % | 69 | % | 70 | % | 69 | % | 65 | % | ||||||||||||||||||
Non-Subscription 1 |
29 | % | 33 | % | 31 | % | 29 | % | 29 | % | 31 | % | 30 | % | 31 | % | 35 | % | ||||||||||||||||||
North America Risk Management Solutions |
||||||||||||||||||||||||||||||||||||
DNBi 2 |
60 | % | 57 | % | 58 | % | 60 | % | 59 | % | 54 | % | 54 | % | 53 | % | 49 | % | ||||||||||||||||||
Non-DNBi 2 |
40 | % | 43 | % | 42 | % | 40 | % | 41 | % | 46 | % | 46 | % | 47 | % | 51 | % |
Notes:
1 | We define Subscription and Non-Subscription revenue as follows: |
| Subscription revenue represents contracts that allow customers unlimited use within predefined ranges, subject to certain conditions. In these instances, we recognize revenue ratably over the term of the contract, which is generally one year. |
| Non-Subscription revenue represents all other revenue streams. |
2 | We define DNBi and Non-DNBi revenue as follows: |
| DNBi, is our interactive, customizable online application that offers our customers real time access to our most complete and up-to-date global DUNSRight information, comprehensive monitoring and portfolio analysis |
| Non-DNBi revenue represents all other revenue streams. |
This financial information should be read in conjunction with the consolidated financial statements and related notes of The Dun & Bradstreet Corporation contained in filings with the Securities and Exchange Commission.